Succession, political resources, and innovation investments of family businesses: Evidence from China

Baili Yang, Abraham Nahm and Zengji Song

Managerial and Decision Economics, 2022, vol. 43, issue 2, 321-338

Abstract: This paper empirically tests the impact of the succession of family businesses on corporate innovation investments and examines the two different types of political resources, political connection and state ownership, in the moderating role of the relationship between succession and enterprise innovation investments. The results show succession hinders the innovation investment of family firms, and political connection has a negative moderating effect on the relationship, while state ownership has a positive moderating effect. Further research shows that in areas with poor institutional environment, the negative adjustment effect of political connections is more significant, and in areas with better institutional environment, the positive adjustment effect of state ownership is more significant.

Date: 2022
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https://doi.org/10.1002/mde.3385

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Persistent link: https://EconPapers.repec.org/RePEc:wly:mgtdec:v:43:y:2022:i:2:p:321-338

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